Key Takeaways
- Bitcoin surged to $67.5K, boosted by positive signals from the Federal Reserve.
- Fed Chair Powell hinted at potential interest rate cuts by the end of 2024.
- Some are targeting May for potential policy shifts.
Bitcoin’s price surged 2% on April 4, reaching highs of $67,500 on Bitstamp.
This uptick coincided with a broader rally in risk assets following positive signals from the U.S. Federal Reserve.
Fed’s dovish stance boosts markets
Federal Reserve Chair Jerome Powell hinted at potential interest rate cuts by the end of 2024, fueling optimism in the markets.
His comments at the Stanford Graduate School of Business suggested that the policy rate, unchanged since July, might see a reduction this year.
U.S. jobless claims and market momentum
The latest jobless claims data showed 221,000 claims, slightly above the expected 214,000, further driving market momentum.
Analysts are now eyeing the next FOMC meeting in May for potential policy shifts.
